Failed Greek Elections Put Markets on Edge

The Greek parliament failed to elect a president on Monday and sent European markets plunging. WSJ's Charles Forelle joins MoneyBeat to discuss. Photo: AP

This transcript has been automatically generated and may not be 100% accurate.

... the focus on the World Economic stages turned to Greece where markets are plunging amid a renewed political crisis ... Charles Forelle has fallen from London e joins us now ... so trials I had known of already going to put on my twenty fifteen year in review ... rates ... sales of feels like old times next year does ... I'll what's the latest that increase ... well so aam there was has its own economic increases been trying to elect a president possesses a minute takes place in Parliament ... aam they failed to elect a president ... the quick outcome of that the what's gonna happen is that there will be new elections are coming out in January ... and that a cancerous Greece into a kind of political chaos in some uncertainty ... as cause the markets increased sickly selloff ... preset market down the street a half percent last I checked which is a lot better than it was earlier that day is down about as much as eleven percent early to devote ... a little budgetary overseas Spina Neely ... I markets they're also down a bit ... Greek bonds are faring very poorly but not a big sign of ... contagion to the rest of year as part of the reason is you know the dough ... it does feel of elected as intended as unlimited as its mobile has changed in years and seems a little resilient ... and able to to ... to come back from any kind of Greek stocks so ... there will be new elections in Greece introducing new political uncertainty ... ah but no signs yet that it's going and it's a broader troubles in the US ... for acting what you see in Greece is again you see ... the usual fault lines in it was a guy like a new president what is really is about is presented about the bailouts resent him bout that all the austerity plans resentment about what they feel Germany has forced upon them ... and you see this far left party this are reasons that out of my pronouncing it correctly ... you see them gaining the pots yet ... yet not in India getting a lot of what has been repaired in the eurozone is stuff like ... I you know the CD has promised a lot of backstop for government bond markets on a cheap loans to banks all the kindest that ... doesn't really do a lot for most people from voters ... unemployment in Greece is still twenty five percent more than twenty five percent ... a quarter of the population is unemployed it's been that way for to for least two years now so ... I'm people are fed up people are disgruntled ... aam and that has fueled ... the popularity of parties like series in which basically say look there's another way there's a way to do this that doesn't involve ... eye in a falling into tents from simply era bands ... aam they have their own plan that is much less focused on austerity ... aam yes investors are not particularly happy with that ... I aam but they are you know they are drawing a lot of support from ... from everyday Greeks who who feel like they haven't been ... nom in ... it that they consider trampled trampled upon in a crisis right ... and I didn't appear to be in Europe that you're going to see this same sentiments for some other ... data periphery countries of the other weaker countries where unemployment is also high for the bailout austerity programs are not popular ... what are the odds of that wages in the iShares India than in ... the dome of most countries are in a better place than they were I'm a couple years ago ... but there are still spots of resentment and spot to travel Portugal's one where elections are coming later ... in twenty sixteen and so ... on there had areas is free anti austerity party that has been making gains there ... um what did the risk for Europe the mistress of European investors as opposed to to to ordinary voters in these countries the risk ... for investors is that ... I aam these parties to seek a renegotiation I knew ... I aam you know the new terms for the day with a message that sets the relative calm and stability that has ... come that has happened since this is that they live regimes Last complaints that II trial for all excellent stuff think you're a much ... my pleasure ...